Format:
Online-Ressource (21 p)
Edition:
Online-Ausg.
ISBN:
1484385888
,
9781484385883
Series Statement:
IMF Working Papers Working Paper No. 13/92
Content:
This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970–2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial intermediation and nonhydrocarbon output growth. The OLS estimation shows that financial development has a statistically significant negative effect on real nonhydrocarbon GDP per capita growth. However, the VAR-based estimations present statistically insignificant results, albeit still attaching a negative coefficient to financial intermediation. It appears that nonhydrocarbon economic activity depends largely on government spending, which is in turn determined by the country’s hydrocarbon earnings
Additional Edition:
Erscheint auch als Druck-Ausgabe Cevik, Serhan Searching for the Finance-Growth Nexus in Libya Washington, D.C. : International Monetary Fund, 2013 ISBN 9781484385883
Language:
English
DOI:
10.5089/9781484385883.001
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